Federal Reserve's quarterly report on household debt

U.S. Household Net Worth Hits Record $163.8 Trillion in Q2 2024, $2.8 Trillion Increase

Sep 12, 2024, 04:09 PM

U.S. household net worth reached a record $163.8 trillion in the second quarter of 2024, driven by significant gains in real estate values and stock market increases. According to data from the Federal Reserve, net worth increased by $2.8 trillion, with stock market values rising by $0.7 trillion and real estate values increasing by $1.8 trillion during this period. Additionally, total non-financial debt rose at an annualized rate of 4.7%. Household debt grew at a 3.2% annualized rate, non-financial business debt at 3.8%, federal government debt at 6.3%, and state and local government debt at 6.0%.